AP NEWS
Related topics

Edison Intl. Faces Tax Deficiences

August 14, 2002

%mlink(STRY:; PHOTO:; AUDIO:%)

WASHINGTON (AP) _ Energy holding company Edison International said Wednesday it had been notified by the Internal Revenue Service that its taxes contained ``deficiences″ for tax years 1994 to 1996.

In its quarterly report filed with the Securities and Exchange Commission, the company said it plans to challenge the findings about its federal corporate income taxes.

Edison International, which is based in Rosemead, Calif., said it has ``meritorious legal defenses″ to the issues, most of which it dismissed as ``timing deficiences.″

Edison International said the outcome of the matter won’t materially affect its results or financial position.

The parent of Southern California Edison, Edison International posted annual revenue of $11.44 billion last year.

Shares of Edison International closed Wednesday down 20 cents, or 1.6 percent, $12.35 on the New York Stock Exchange.

AP RADIO
Update hourly